What is the employment level for the firm

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Reference no: EM132196779

Question: Suppose one firm's labor demand function is:

D(w) = 2w + 50;

(a) if this firm hires in a competitive market with the marginal expense ME = 10, then what is the employment level for this firm?

(b) if there are 100 firms that are exactly the same like this one hiring labor, what is the market labor demand function? Further, assume the market sup- ply function is S(w) = 300w, then what is the equilibrium market wage and employment level?

Reference no: EM132196779

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